Northwest Copper closes financing at $4.1-million

Executive Summary

• Northwest Copper Corp. upsized its non‑brokered critical‑mineral flow‑through private placement to a total of $4.1 million in gross proceeds, completing the offering with a final tranche of $900,000.
• The financing consists of 887,490 units at $0.225 per unit, each unit containing one flow‑through common share and half of a non‑transferable warrant exercisable at $0.34 until 22 Aug 2027.
• Proceeds are earmarked for the 2025 exploration drilling program at Kwanika Central and nearby Transfer and Andesite Breccia targets, as well as metallurgical sampling to improve copper and gold recoveries.

Key Details

• Upsize Amount: Total FT offering increased from $3.5 M to $4.1 M in gross proceeds.
• Final Tranche: 887,490 units sold for $900,000; price per unit $0.225.
• Unit Composition:
• 1 flow‑through common share
• ½ non‑transferable common share purchase warrant (exercise price $0.34, expires 22 Aug 2027)
• Use of Proceeds: Exploration drilling at Kwanika Central, Transfer target, Andesite Breccia target; metallurgical program to enhance Cu/Au recoveries, especially for finer‑grind sizes.
• Drilling Program: Planned 5,135 m of core drilling in 2025 (targets include higher‑grade zones, Transfer, Andesite Breccia). Pre‑work completed (wildlife surveys, access road, camp/core shack).
• Finder & Advisory Fees: Cash finder fees $50,250; issued 206,276 common shares for cash‑equivalent fees and 223,332 compensation warrants (same terms as FT warrants).
• Hold Period: All securities from the final tranche subject to a hold period expiring 23 Dec 2025.
• Tax Treatment: FT shares qualify under Subsection 66(15) of the Canadian Income Tax Act; gross proceeds will be used for eligible Canadian exploration expenses and flow‑through critical‑mineral mining expenditures, with renunciation required by 31 Dec 2025.
• Advisors: Canaccord Genuity Corp. acted as financial adviser to the FT offering.

Notable Quotes

“The demand from investors for the flow‑through financing and its closure has been a great success for the company… This increased funding will allow the company to execute on its planned 2025 exploration drilling and metallurgical programs, and bring forward certain drill holes originally planned for 2026.” – Paul Olmsted, CEO

“Closing of the financing has allowed for a staged approach to executing on the 2025 exploration program… We are excited to start the 5,135‑metre drill program to confirm and expand higher‑grade zones within the broader mineral resource.” – Geoff Chinn, VP Business Development & Exploration